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EUR/JPY below 137.00, at 4-week low

FXStreet (Córdoba) - EUR/JPY broke below 137.00 and fell to 136.69 reaching the lowest price since September 9. The euro weakened after the release of industrial production data from Germany, that plummeted in August by 4% while the japanese currency is stronger across the board.

The decline of the USD/JPY, that is approaching 108.00 is giving support to the yen in the market. EUR/JPY remains below 137.00, near daily lows, moving with a downside bias and under pressure.

EUR/JPY levels to watch

The pair is consolidating below the important area located around 137.00. If it manages to rise back above it could remove some short term pressure. To the downside, immediate support lies at 136.65/70 (daily low) followed by 136.35 (August 12, 28 low).

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